Catcha Digital sets up new unit to develop technology solutions and software for Malaysia’s public sector
Malaysia-based Catcha Digital has on Thursday announced the formation of a new business unit called “i-Gov”, specifically focused on working to develop technology solutions and software for the Malaysian government and the public sector.
Catcha Digital said in a statement said i-Gov unit is established to contribute to the Malaysian government’s effort in digital transformation and GovTech.
On May 15， 2023, Malaysian Prime Minister Anwar Ibrahim announced the establishment of the Centre for the Fourth Industrial Revolution Malaysia (Malaysia Centre for 4IR), an independent centre within the World Economic Forum (WEF) global ecosystem focusing on two priorities – digital transformation and GovTech, and energy transition.
Catcha Group Pte Ltd, the major shareholder of Catcha Digital, has long maintained a meaningful dialogue with the Malaysian Government on matters related to the digital economy and government digitization, the technology ecosystem and opportunities for improving the government’s digital initiatives.
“We see tremendous opportunities to work with the Malaysian government to unify and improve digital services for the nation and its people, in accordance with The Malaysia Digital Economy Blueprint and Policy for the Fourth Industrial Revolution,” said Patrick Grove, Chairman of Catcha Digital.
“We have spent considerable time in dialogue with various parts of the Government brainstorming ways to bring Malaysia’s digital services to a world class level,
“Internationally, significant progress has been made in enhancing efficiency and convenience for countries through the introduction of world class software solutions and digital access to government services,” he said.
With the launch of i-Gov, he saidm the firm aims to accelerate Malaysia’s transformation towards a digital economy.
According to the statement, i-Gov will look to acquire existing software providers to the Malaysian Government and enhance their capabilities and services, as well as engaging directly with the Malaysian Government on new initiatives and projects designed to advance the government’s technology agenda.
I-Gov will also forms a board of advisors to guide its efforts in the government space in the near future.
Catcha Digital is a Malaysia-based investment holding company focused on operating businesses in the digital media, advertising and software industries.
As a final step in its regularisation plan, Catcha Digital in last month launched an abridged prospectus in relation to a renounceable rights issue involving the issuance of up to 174.64 million new ordinary shares in Catcha Digital on the basis of one rights share for every one existing Catcha Digital share held by the entitled shareholders at an issue price for each rights share fixed at MYR 0.235 ($0.05), to raise up to MYR 41.04 million ($8.79 million).
Catch Group has already committed MYR 18 million ($3.85 million) to the rights issue.
Upon completion of the regularisation plan, Catcha Digital will have its GN2 status lifted.
Meanwhile, the group’s wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast moving consumer goods, retail, property, entertainment and other industries in Malaysia.
IMedia recorded a Profit Before Tax (PBT) of MYR 10.28 million ($2.2 million) in FY2022, representing year-on-year growth of approximately 69 percent.
In the first quarter ended 31 March 2023, iMedia PBT grew by approximately 28 percent compared to the same period last year to reach MYR 3.89 million ($830,000).
IMedia reaches over 13.1 million Malaysians each month as of 31 May 2023 via its extensive portfolio of digital marketing platforms and services over 100 brands across multiple industries.